⏫ Trailing Stop Loss
Secure your profits with a triling stop loss.
A trailing stop loss is a type of stop-loss order that adjusts automatically as the price of an asset moves in a favorable direction. It’s designed to lock in profits while minimizing potential losses by maintaining a specified distance (in percentage) from the current market price.
How Trailing Stop Loss Works:
Set an Initial Stop Loss: When you enter a trade, you set an initial stop loss at a certain price level to limit your potential loss.
Trail Activation: As the price moves in your favor, the trailing stop follows the price at a specified distance.
Trailing Distance: The trailing stop distance is set as a percentage of the current price (e.g., 20% below the highest price).
Locking in Profits: If the price reverses and hits the trailing stop level, the order is executed, locking in your profits or minimizing your loss based on where the stop was trailed to.
You can enable or disable your trailing stop loss if you see the button option either in settings or main UI for a specific trading strategy.
